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Abstract
This paper investigates the impact of diversity on corporate philanthropy. Compared to previous studies that have considered
the influence of board diversity and CEO gender on corporate philanthropy, this study introduces the concept of operational
diversity, which is the implementation of diversity programs at management, employee, and supply chain levels, and further,
it explains why operational diversity influences corporate philanthropy, by using the premises of resource dependence theory.
Second, this study also investigates the influence of board diversity on corporate philanthropy. Third, this study uses a
large sample of U.S. firms over the period of 1991–2009 and tries to mitigate possible omitted variables and endogeneity problems
that are often overlooked in previous research. We demonstrate that firms with operational diversity programs are likely more
dependent on a broad variety of resources and give more to community as a strategic maneuver; hence, operational diversity
is a better indicator for predicting future corporate giving than board diversity alone. However, having a woman or a member
of a minority as a company’s chief executive officer is not sufficient to impact its charitable giving. A battery of robustness
tests support our conclusion and confirm that our results are not driven by a firm’s general corporate social responsibility
(CSR) score, gender or independence of board members, or firm ownership. This paper will assist researchers, practitioners,
and other stakeholders in deepening their understanding of the predictors of corporate giving.
- Content Type Journal Article
- Pages 1-17
- DOI 10.1007/s10551-012-1445-9
- Authors
- Jean D. Kabongo, College of Business, University of South Florida Sarasota-Manatee, 8350Â N. Tamiami Trail, SMC-C263, Sarasota, FL 34243-2025, USA
- Kiyoung Chang, College of Business, University of South Florida Sarasota-Manatee, 8350Â N. Tamiami Trail, SMC C229, Sarasota, FL 34243, USA
- Ying Li, University of Washington Bothell, 18115 Campus Way NE, Office UW2-322, Bothell, WA 98011-8246, USA
- Journal Journal of Business Ethics
- Online ISSN 1573-0697
- Print ISSN 0167-4544